Despite everything you’ve heard about the housing market, the residents of these swanky streets aren’t sweating it. That’s because they live on the most expensive residential streets in the world. A recent survey by Wealth-Bulletin places the following five streets at the top of the list.

5. Avenue Montaigne, Paris – $5,046 per square foot.

Site of the French capital’s most exclusive shops, Avenue Montaigne is one third of the “Golden Triangle,” along with Avenue Champs-Elysees and Avenue Georges V (Paris’ former most expensive street).

4. Kensington Palace Gardens, London – $7,196 per square foot.

Parallel to the royal family’s Kensington Palace, this street is capped at either end by an embassy—one Russian and one Israeli—which is perfect for any security conscious billionaire. Lakshmi Mittal, a steel magnate, is apparently one such billionaire. He owns two houses in Kensington Palace Gardens, one of them being the most expensive house ever sold when he purchased it at Â£57 million (US $111 million) in 2004.

3. Fifth Avenue, New York City – $7,500 per square foot.

Fifth Avenue in 1918

The third most expensive street in the world runs from Washington Square to Harlem and divides Manhattan’s East/West streets. It is representative of New York’s upper crust, having been rated as the most expensive shopping street in the world. In 2005, press baron Rupert Murdoch purchased one of the Plaza Apartments attached to Plaza Hotel for $44 million.

2. Severn Road, Hong Kong – $11,200 per square foot.

Hong Kong’s most expensive street lies on the top of Hong Kong Island in the city’s most affluent district, The Peak. A $38 million apartment purchased by a Chinese businessman earned this street its place on the list. The street is named after a British colonial administrator, Claud Severn, who spent 1911-1925 as Colonial Secretary of Hong Kong.

1. Avenue Princess Grace, Monaco – $17,750 per square foot.

The world’s most expensive residential street was named after former Monacan princess and iconic black and white film actress Grace Kelly. Residents of Avenue Princess Grace can expect to meet Middle Eastern elites, Russian billionaires and members of the Monacan royal family. The price was set by a $41 million, four bedroom home.